Mavis Discount Tire
Kutztown, PA
Key Details
| Price: | $2,975,207 |
|---|---|
| Cap Rate: | 6.00% |
| Annual Rent: | $178,512 |
| Address: | 15100 Kutztown Road, Kutztown, Pennsylvania 19530 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Expiration: | 20 Years from Close of Escrow |
| Lease Term Remaining: | 20 Years |
| Rental Increases: | 5.00% Every 5 Years |
| Lot Size: | 1.34 Acres |
| Building Size: | 6,797 SF |
| Year Built: | 2023 |
NNN Pro is pleased to present the exclusive listing for a Mavis Discount Tire located at 15100 Kutztown Road, Kutztown, Pennsylvania 19530. The site consists of roughly 6797 rentable square feet of building space on an estimated 1.34-acre parcel of land. This Mavis Discount Tire is subject to a 20-year Triple Net (NNN) lease, which will commence upon close of escrow. The annual rent will be $178,512 and has scheduled increases of 5.00% Every 5 Years.
About the Investment
- Long-Term 20-Year NNN Sale-Leaseback | The subject investment property will feature a brand new 20-year lease commencing at the close of escrow and is subject to zero landlord responsibilities.
- Strong Corporate Guarantee | The lease is subject to a strong corporate guarantee from Mavis Tire Express Services TopCo Corp, a 2000+ unit guarantee, the largest tire service operator in the US. Mavis currently operates the following brands with a highly diversified business mix: Mavis Discount Tire, Express Oil Change, Brakes Plus, NTB, Tire Kingdom, Tuffy Tire, and Town Fair Tire.
- Recession Resistent Due to Non Discretionary Nature of Services | The tire services business is highly recession-resistent. During COVID-19, tire shops and maintenance experienced an average revenue increase of 44%.
- Attractive Rent Increases and Renewal Options | The lease features scheduled increases of 5.00% every 5 years. It is also subject to 6, 5-year options to extend lease term for an additional 30 years.
Key Details
| Price: | $2,975,207 |
|---|---|
| Cap Rate: | 6.00% |
| Annual Rent: | $178,512 |
| Address: | 15100 Kutztown Road, Kutztown, Pennsylvania 19530 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Expiration: | 20 Years from Close of Escrow |
| Lease Term Remaining: | 20 Years |
| Rental Increases: | 5.00% Every 5 Years |
| Lot Size: | 1.34 Acres |
| Building Size: | 6,797 SF |
| Year Built: | 2023 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Matthew Anuszkiewicz
manuszkiewicz@nnnpro.com
License: NY: 10401294046
Robert Stein
rstein@nnnpro.com
License: NY: 10401341647
Davis Ford
dford@nnnpro.com
License: NY: 10401379279
Broker of Record
Brian Brockman
Bang Realty-Pennsylvania, Inc
License: RM432816
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.